Monthly private mortgage insurance on conventional loans with less than 20% down.
| Loan Amount | 760+ Excellent | 700–759 Good | 660–699 Fair | 620–659 Poor |
|---|---|---|---|---|
| $250,000 | $98/mo | $135/mo | $178/mo | $240/mo |
| $350,000 | $138/mo | $189/mo | $249/mo | $336/mo |
| $450,000 | $177/mo | $243/mo | $320/mo | $432/mo |
| $550,000 | $216/mo | $297/mo | $391/mo | $528/mo |
$20,916 total wasted
20% down or refinance at 20% equity
MIP ~$212/mo often lasts the full loan
$0 PMI never required
Raising your credit score from 660 to 740 before applying can cut PMI by $60–$110/month on a $350K loan. On a 7-year timeline, that's $5,000–$9,000 back in your pocket.